Michael Fleming reports at Variety:

Hugh Jackman has removed himself from discussions to star with Catherine Zeta-Jones in Cleo, a 3-D live action musical which Steven Soderbergh will direct as his next project…Soderbergh has said he wants to inject the famous historical love story with rock n’ roll songs and a style akin to an Elvis musical.

Jackman’s exit is attributed by insiders to scheduling conflicts, though it is not clear what other project is on his plate.

Above: Elvis Presley in the 1965 harem-sploitation musical comedy, Harum Scarum. Discuss.